Developed with input from J.P. Morgan, the program replaces the custom, bespoke smart contracts institutions currently rely on with a standardized, MIT-licensed rail. The system ensures that asset and cash movements occur simultaneously, or not at all, effectively compressing settlement times from days into seconds. This architecture supports both SPL Token and Token-2022 standards, incorporating the transfer hooks and pausable features necessary for regulated issuers.

Catherine Gu, Head of Product for Digital Assets at the Solana Foundation, noted that the tool provides a unified open standard across the ecosystem, removing the risks inherent in legacy finance. While J.P. Morgan contributed expertise regarding institutional settlement requirements, the bank clarified that its involvement was limited to advisory input. The Solana Foundation has already completed external security audits for the program and intends to integrate privacy features to ensure future trade confidentiality.